Answer to Question #68851 in Accounting for indhu

Question #68851
Balance sheet and PL account of JB sons company Ltd as on December 31, 20x3 and 20x4 are as follows. Prepare a statement of sources and uses of funds. Balance Sheet as on 31 December Liabilities 20x3 20x4 Assets 20x3 20x4 Accounts Payable Cash Credit Outstanding Expenses Long term Loan Capital Surpluxs 15,000 13,000 2,000 30,000 30,000 10,000 25,000 10,000 3,000 20,000 30,000 12,000 Cash balance Accounts Receivable Loan and advance Inventories Fixed assets (net) 5,000 10,000 5,000 20,000 60,000 2,000 8,000 ------ 25,000 65,000 1,00,000 1,00,000 1,00,000 1,00,000 Profit and Loss Account for the year 20x4 (Rs.) Sales Less: Cost of goods sold (including depreciation of Rs.10,000) Gross Profit Less: Ollier Expenses Income before tax Less: Income – tax Provision Income aftie tax 2,00,000 1,70,000 30,000 20,000 10,000 5,000 5,000
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